AI English summary of an SEC filing — figures as filed
Mondelez International MDLZThe company said net revenues for Q2 2024 decreased $164 million (1.9%) to $8,343 million, and Organic Net Revenue increased $209 million (2.5%) to $8,559 million. It cited unfavorable currency-related items and the 2023 divestiture of the developed market gum business as factors in the net revenue decrease.
Key points
AI summaryThe company said net revenues for Q2 2024 decreased $164 million (1.9%) to $8,343 million, and Organic Net Revenue increased $209 million (2.5%) to $8,559 million. It cited unfavorable currency-related items and the 2023 divestiture of the developed market gum business as factors in the net revenue decrease.
The company said operating income for Q2 2024 decreased $571 million (40.1%) to $854 million, and Adjusted Operating Income increased $223 million (17.6%) to $1,492 million. Operating income margin changed from 16.8% to 10.2%, and Adjusted Operating Income margin changed from 15.2% to 17.9%.
The company said net earnings attributable to Mondelēz International for Q2 2024 decreased $343 million (36.3%) to $601 million, and diluted EPS was $0.45, down $0.24 (34.8%). Adjusted EPS was $0.86, up $0.14 (19.4%).
The company said its board approved funding of $1.2 billion on July 2024 for a multi-year program to upgrade its global ERP and supply chain systems. The company said spending will occur over the next 5 years, with completion expected by year-end 2028, and that a majority of the spending is expected to be operating expenses.
Key figures
Quarter ended June 30, 2024
- Revenue
- $8.3B
- Operating income
- $854M
- Net income
- $601M
- EPS
- $0.45
- Gross profit
- $2.8B
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Net Revenue and Organic Net Revenue for Q2 2024
The company said net revenues for Q2 2024 decreased $164 million (1.9%) to $8,343 million, and Organic Net Revenue increased $209 million (2.5%) to $8,559 million. It cited unfavorable currency-related items and the 2023 divestiture of the developed market gum business as factors in the net revenue decrease.
Source · Based on the MD&A text of the filing
Operating Income and Adjusted Operating Income for Q2
The company said operating income for Q2 2024 decreased $571 million (40.1%) to $854 million, and Adjusted Operating Income increased $223 million (17.6%) to $1,492 million. Operating income margin changed from 16.8% to 10.2%, and Adjusted Operating Income margin changed from 15.2% to 17.9%.
Source · Based on the MD&A text of the filing
Net Earnings and Adjusted EPS for Q2
The company said net earnings attributable to Mondelēz International for Q2 2024 decreased $343 million (36.3%) to $601 million, and diluted EPS was $0.45, down $0.24 (34.8%). Adjusted EPS was $0.86, up $0.14 (19.4%).
Source · Based on the MD&A text of the filing
ERP System Implementation Funding Approved
The company said its board approved funding of $1.2 billion on July 2024 for a multi-year program to upgrade its global ERP and supply chain systems. The company said spending will occur over the next 5 years, with completion expected by year-end 2028, and that a majority of the spending is expected to be operating expenses.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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